IPL Plastics plc plans to build a new Canadian company and refinance its debt to continue paving the way for initial public offerings. The company was originally based in Dublin.
On April 17, the company said at a press conference that it plans to create a new holding company called IPL Plastics Inc. The company is considering allowing the new company to list on the Toronto Stock Exchange, which will provide the new company with a good platform for obtaining funds.
IPL stated that the establishment of a Canadian holding company should minimize the risks associated with IPOs. Similarly, listing in Toronto should provide the company with a better market share for other investors in North America.
IPL plans to seek shareholders' approval of its plans at special meetings after the annual general meeting of shareholders on May 17.